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Us 17, Glenn Beck 14, John 7, Minnesota 6, Beck 6, Washington 5, New Orleans 5, Sharron 4, Peggy 4, Sarah Palin 4, Bush 3, Obama 3, John Boehner 3, Glenn 3, Iraq 3, Bill Cunningham 2, Dr. King 2, Katrina 2, Rupert Murdoch 2, Bayer 2,
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  MSNBC    The Ed Show    News/Business. New.  

    September 1, 2010
    6:00 - 7:00pm EDT  

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up with a good piece of the political action, even this november. not only that, but one day sooner than you think, with a place in the sun. democrats, did you hear me? play your strengths. work and wages. that's "hardball" for now. right now it's time for "the ed show" with ed schultz. >> good evening, americans, and welcome to "the ed show." tonight from new york, these stories on the table. hitting my hot buttons at this hour, the beckster attacking me? buddy, i'm going to expos you for the phony you've been all along. my commentary in a moment. the tea party express is picking up steam. another palin pick has taken down a republican establishment candidate. van jealous is going to stop that train in the battleground story tonight. and corporate greed is literally out of control. companies are firing people by the thousands while their ceos
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are raking in millions. i'll tell you who they are and how they're screwing the american worker. that's all coming up tonight. but this, of course, is the story that has me fired up tonight. glenn beck, the man who is bringing the country back to god, took his eye kind of off the lord long enough to come and attack me. he didn't like my observation that a lot of the folks, thousands of the people at his rally were old, white, angry, palin-mccain leftovers and took issue with the fact that i'm on a mission to level the playing field on radio and tv for years. conservative talk and fox news have been doing a good job of writing propaganda in ways that i think it has been very damaging to the country. you know, like those wmds in iraq. but if you have fire in your belly, and you're a liberal, oh, gosh, you must be really angry. look, i'm an ex-jock, i'm an ex-football player.
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you know what jocks do, we get in the locker room, we talk to our team and get after it. i told my radio audience that i want to kick fox's -- rear end when it comes to ratings. who doesn't? beck played a clip of my radio show to illustrate how angry liberals can be. i wasn't angry, i was passionate. take a listen to what real anger sounds like. >> where's your logic. what would you do to change this health care system for the better? after all, every time you people bring up costs, you don't care about the trillions of dollars to bail out the banks and all the credit card companies. >> cathy, get off my phone! get off my phone, you little pinhead! i don't care, you people don't care about the trillions. get off the phone!
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>> now, i was just passionate about beating fox. i mean, beck, he went mental because he didn't think americans should have health care? i was at a free health care clinic yesterday in new orleans. is glenn beck screaming at those americans? i'm trying to help people get health care, to help the unemployed, the ones that beck say are un-american. push the president to do the correct things for the middle class. keep jobs from being shipped ov overseas. all the things that beck doesn't talk about. and all the things that we know we've got a lot of work to do in this country. now, nbc news reported that beck had 300,000 people at his rally. cbs put it under 100,000. now, i also said on my radio show, i could get 300,000 people. you give me six months of promotion, six months of production and two billionaires paying for bussing the people
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in, we're get it done. 99ers, outsourced americaned, probably teachers, union workers, those dirty sons of guns out there, wage earners of america, those cab drivers, those truck drivers, i'm confident that if i were to do this, that they would walk with me. beck's rally, i'm telling you, folks, was no big shakes. it has -- not going to have any impact on the midterms. it's what is in our heards and what we want to do to save this country is what it's about. thousands of his followers, let me say it again so they don't have to edit the tape, they were old, white, angry americans who can't stand the fact that there's a black guy in the white house. now let's get into the grandiose side of glenn beck. beck wants to lead the nation back to god. well, let's start with this sound bite. >> this president, i think, has exposed himself as a guy over and over and over again who has
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a deep seated hatred for white people or the white culture. i don't know what it is. >> oopse. wrong sound bite if we're talking about god. let's get to the god part. >> something beyond imagination is happening. something that is beyond man is happening. america today begins to turn back to god. >> even the birds overhead were on a mission from god. >> at 9:59, what happened was there was a flock of geese that ran. it was a fly-over, if you will. someone caught it on tape. here's the fly-over. this was happening just as the opening music was starting.
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>> anybody who spends any time at all in washington, d.c. know that the geese fly all over the city and they crap over everything. in fact, the air traffic controllers at reagan national airport have complained about having too many geese. you know, i just have a hard time with a talk show host wrapping himself in the flag and the bible to promote a personal agenda. let's not forget the fearmongering. beck just told news max, this is what he said. i feel a reichstag moment. god forbid another 9/11, something that will turn this machine on and power will be seized and voices will be silenced. what voices? are you hearing voices, beck? what voices are you going to be silenced. has barack obama tried to silence voices? beck also sounded the alarm on his tv show.
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>> i believe we're approaching a last call. all aboard. god's train. buckle up, because trouble is coming. get behind the shield of god. that is the message. >> oh, it is? beck, you're off your rocker. you have no faith, in my opinion. this guy thinks america is on the road to armageddon. go ahead, buddy, call me angry, call me anything you want. i do want to mention the fact that i've gotten a lot of e-mails from beck's fans, i guess, and they always like to say i'm fat, hey, you fat. i want to let you know that i was fat right after college. i've been fat for a long time. i was fat yesterday. i'm fat today. i'm going to be fat tomorrow. why? because i like to eat stuff. i'm kind of a normal american. and i get passionate about issues when i see jobs that are being shipped out overseas. you beck supporters that have been leaving me hate voice mails and hate e-mails, bring it on, baby. bring it on.
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i've got the truth on my side. it's amazing how you change your attitude about america once your job has been shipped overseas. beck hates unions. he hates the working folk of america. he never talks about the middle class. and i can say with confidence that he would never take his show, as i did yesterday, to a free health care clinic. because you see, he's already labeled those 99ers as unearn and questioned how long should we help you? you know what? how long should we be in war? how much money should we actually spend? you know, it's all about the money with the conservatives. and i can tell you, even with beck in this whole circus that he's got cooking, it is about the money, i give the guy credit. he knows how to make it. but when it comes to leading the country to god, no. no. he won't even apologize for his comment about the president of
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the united states. when he talks about a 9-year-old in the crowd who might be listening to what's going on, that's the danger in all of this. the hate merchanting that he does is touching a lot of americans who are at a very influential period in their time and development. another thing that i find very interesting about beck, he never advocates for the american worker. if you check his hats and t-shirts and everything else, they're all made in china. they're not made by american workers. he's a phony. get your cell phones out. tonight's question is, do you think glenn beck is a phony? i'm texting a for yes. text b for no. we'll bring you the results later on in the show. joining me now is robert greenwald, he directed and produced the documentary "outfoxed rupert murdoch."
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good to have you with us tonight. is it really a scam? is it all about making money or does beck really want to bring this country back to god, what do you think? >> well, according to "forbes" magazine, the beck enterprises made $32 million last year. so unless glenn beck is prepared to turn all of that money over to charities, i think that we can clearly and safety call him on his hypocrisy. and maybe it's a good campaign to lead, ed. we encourage beck to give the money away, because he wouldn't want to profit from something, right? so i think there's a strong, clear case about what you were saying, the money is a driving force here. and the irony of this man, sort of taking on the mantle of dr. king, you know that dr. king would be right up on the board with van jones and color of change and all the other people that beck has gone after.
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>> why is it then when liberals are passionate, we're labeled as angry? yet when conservatives get passionate, they're just great americans? is this just a conversational trip that these folks are on, what do you think? >> well, it's the fact that they're always playing offense and they're always looking at a way to attack. if they can attack our messengers, which they do over and over again, whether they attack you, ed, or the unions or a.c.o.r.n. or they attack the way we deliver our message, it effectively puts them on offense. one of the things that we need to keep doing is find a way for progressives to go on the offense so we're not always reacting. but, you know, the fact that he can go out and slander and accuse, the hypocrisy, the justification, all in the name of religion is frankly disgusting. >> ronlts, if i decide to march
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on washington, i know i can count on you for promotion. >> ed, if you march on washington, you have to promise you'll have the geels flying above you when you do. >> i would rather have pheasants but that's okay. good to have you with us tonight. more serious talk on this. i mentioned beck's god talk earlier. here's something you might know about him or might not know. he's a mormon, fine. his religious overtones and rhetoric have begun to raise red flags with some christians in this country. joining me now is reverend jim wallace, a target of beck from time to time. reverend wallace, can christians in this country take beck serious when he says he wants to bring the country back to god? >> well, first of all, it doesn't matter if glenn beck is a mormon. and we don't want anti-mormon bigotry any more than anti-muslim bigotry. the problem with glenn beck is i think he's wrong with some of the things he's saying and he's
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more wrong about the way he says what he says. he's attacking a lot of us because we are what he calls social justice christians. the first type of this was dr. martin luther king, jr. i was one of his disciples. and i believe, as beck does, in personal salvation. but the question is, for what? is it a ticket just to heaven for me, or for the world? for god's purposes in the world. so dr. king talked and his faith leading him to fight for economic justice, racial justice, social justice. so i like to still not just be attacked by glenn beck but have a civil dialogue with glenn. he is a mormon, that's fine. but he doesn't understand christian theology very well at all or what jesus said or what the prophets had to say about social justice. >> quickly, he has such an angst
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for people who have lost their job, such contempt for minorities, it's well stated. how can he be a man of any faith that acts like this? >> well, again, i want to talk about what people mean when they say let's turn to god. i try and do that every day. a lot of us do. what does that mean? what does our faith mean in the world? glenn beck says he doesn't like the version of christianity practiced by barack obama or me or other people. well, jesus said, in his opening sermon, he said the spirit of the lord is upon me because he has anointed me to preach good news to the poor, to release the captives, and set at liberty those who are oppressed. that was the call for social justice. so does glenn beck agree with jesus' version of christianity? let's have a dialogue about this. >> there are people in this country who are on pressed by the medical profession, because
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they're sick and dying. they don't have insurance and they can't afford it, can't think of anymore oppression than that. and he has contempt for the people of this country trying to help those people. we're short on time. i know if i called for a march, you would join me, wouldn't you, reverend? >> standing up for social justice is something i'll march for any day of the week. >> now i need 299,298 more people. we're on a role here in the first 15 minutes. >> the country needs not just name calling and attacking. but a serious conversation about something as serious as what social justice really means. >> i totally agree. >> i want glenn to talk with me and not just call me names. coming up, it wasn't just war talk for the president last night. he fought for jobs and economic recovery for the middle class. congressman cummings has a
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message to the righties. and sharron angle was a teacher but she doesn't value a good education. i'm going to give her a lesson in the "playbook" tonight. plus, i'm exposing the greediest ceos in the country. you're watching "the ed show" on msnbc. stay with us. financing their fleet, sharing our expertise, and working with people who are changing the face of business in america. after 25 years in the aviation business, i kind of feel like if you're not having fun at what you do, then you've got the wrong job. my landing was better than yours. no, it wasn't. yes, it was. was not. yes, it was. what do you think? take one of the big ones out? nah.
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our most urgent task is to
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restore our economy and put the millions of americans who have lost their jobs back to work. we must jump-start industries that create jobs and our dependence on foreign oil. we must unleash the innovation that allows products to roll off the assembly lines and nurture the ideas that string from our entrepreneurs. this will be difficult. but in the days to come, it must be our central mission as a people. and my central responsibility as president. >> welcome back to "the ed show." thanks for watching. i thought the president hit all the right notes last night. he's shifting his focus to what america needs most, that is jobs. americans are hurting and the president has a lot of work to do on this to make it better. but i can tell you who will not be working hard on this and that's john boehner and his party of do nothing obstructionists. they're disingenuous when they
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say they have a plan. they don't and never had a plan. it's about water loo and that's it. they're blocking a jobs bill that has been held up in the senate right now. let's turn to elijah cummings who has his name on 370 bills that have been stalled. congressman, good to have you was tonight. i appreciate your time. >> good to be with you, ed. >> can we do it without republican help, what do you think? >> it's going to be difficult, but i believe we can do it. keep in mind, ed, we were spending $2 billion every day in iraq. and that's a lot of money on a war that should have never been fought. but the fact still is we've got to do better. you know, the president talks constantly about a bill that we have in the senate, it's past the house, that would give $30 billion to community banks so
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that they can lend to small businesses. >> some are laughing at that number. some say that's not even close to scratching the surface. what do you think? >> i say i would love for them to come and visit my district and see the 60 or 70 small business people who met with the federal reserve not long ago and basically said, look, we just need lines of credit. many of them, they've lost their lines of credit because of banks and the situation we find ourselves in. and ed, i ran a small business. a law firm for almost 20 years. these people were saying, if they only had a $25,000 or $30,000 line of credit, they could do more business. but the fact is, the banks have not done their part. our republican colleagues have stood in the way of a bill basically that republicans like. they're the republican ideas and as soon as president obama proposes it, suddenly there's something wrong with it. and my friends on the republican
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side are looking into the eyes of their constituents and basically saying there's nothing that can be done and sadly there's a lot that can be done if only we would come together. >> congressman, this is a vital point i want to make that there hasn't been enough discussion about. you go into a bank today and you have to personally guaranty the loan. there are a lot of businesses that can't personally guaranty the loan, they're fragile. but would this money help those people back up the loan with federal money, is that how this is going to work? because if the republicans are against that, they are totally against small business. >> this would do that and more, ed. it would help them -- it would give them access to capital. the kaufman business report says the number one concern of small business, the thing they want the most is access to capital. that is so important to them. and i can tell you, like i said, ed, you're talking about $15,000, $20,000, $30,000 in a line of credit. it could literally give people
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opportunities to do say $125,000 worth of business off of that $30,000 because it allows them to get from one day to another. >> congressman, good to have you was tonight. thanks so much. coming up, i'm not done with the beckster. the truth will set you free. i'm locking imup in the zone, next. stay with us. ♪ well, if you come from the hood ♪ ♪ or ya come from the burbs ♪ got the fellas up in here tonight ♪ ♪ ♪ we at the block party having fun ♪ built with quality and backed with the best coverage in america including a 100,000 mile powertrain warranty.
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should start with telling the truth. listen to what he told the crowd at the rally on saturday. >> i went to the national archives and i held the first inaugural address written in his own hand by george washington. >> really? small problem there, big guy. the folks at the national archives said there was no way, anyone, even glenn beck would be allowed to touch precious documents like washington's inaugural address. what's the conclusion? beck is either lying, which he does a lot of, or he snuck in illegally. but even after telling that whopper, beck still had the gal to lecture his followers about the importance of telling the truth. >> tell the truth! america is crying out for the truth! tell the truth, in your own life
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and then expect it from others. the truth shall set you free. the truth shall set you free. >> interesting the videotape there, all the people that were leaving. if the truth really does set you free, glenn beck should be in a maximum security lockup after all his bogus psycho talk. coming up, this is scary as heck. sarah palin endorsed nutjob joe miller, just one giant step closer to the senate. he joins rand paul and sharron angle, the tea party folks, they continue to grow. and ben jealous brings the straight talk next. and secrets about the wonderful sarah palin, revealed. "vanity fair" has a report on her hidden anger. can you believe it? and bad tipping. i guess she's really cheap.
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details coming up in the "playbook." plus, democrats fight back against fox news. the president knocks one out of the park and sharron angle needs a real time-out when it comes to education. ♪
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welcome back to "the ed show." the battleground story tonight, the tea party has taken out another republican encome banlt. last night, senator lisa murkowski conceded to joe miller. this makes miller the fifth republican senate candidate to take out an establishment favorite in the primaries. he joins rand paul of kentucky, nevada's sharron angle, colorado's ken buck and mike lee of utah. if those five candidates win in the general election, tea partiers will make up 10% of the republican caucus in the senate next year. let me bring in general jealous, president of the naacp.
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if that scenario plays out, what does that signal to your organization and how do you feel about that seeing that these tea partiers have been so volatile when it comes to race? >> we're very pleased that the tea partiers have begun to heed our call and be more civil. and the fact that glenn beck asked his followers to leave their guns and signs at home, the fact that mark williams was thrown out of the tea party nation and we're finding these tea party leaders of color, we see those as very good signs. >> you've asked the tea party to denounce racism. have they done that? >> i was just talking about that, that's begun to happen. we are concerned, because we've seen groups like the council of concerned citizens brag about being active in the tea party. so, again, we're seeing great progress there, and we're -- but
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what we're also very cognizant of is the main stream wants to solve big problems like health care, doing what the president said last night which is get out of these -- disentangle ourselves from the wars overseas, get folks back to work, make sure that every school is a great school, keep solving issues in our justice system and moving towards that place that all of us want our country to be at, which is a place where things get better. >> how active is the naacp going to be in this midterm? >> we are working very hard to get people focused on what is at stake. on 10-2-10, we'll have a big national rally here. the focus of the rally is jobs, justice, fixing the problems in our schools, and making sure that we keep on moving forward as a country and we don't start
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moving backwards. we have come way too far, made way too much progress for us to start heading backwards now. >> no question about that. ben jealous, appreciate your time tonight. thanks for joining us. now let's get some response. president obama praised george w. bush's love of country and the commitment to security last night. but it wasn't enough for former bush secretary ari fleischer. he thinks w. deserved credit for the troop surge. the democratic governor's association has been raking in the cash since news corp gave a million dollars to the republicans. and hatredio talk show host bill cunningham says mr. tan man is letting him broadcast from his office in the united states capital on election day. that's a hot one with me. tonight, we have radio talk show host bill press and also joining
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us is republican strategist john fury. let's talk about the president's speech last night. bill press, did the president go far enough? >> he went too far for me, ed. i growned when he said it, but i thought it was a class act to give president bush credit, at least for following his beliefs, loving his country, supporting the troops. but the president made it clear, if he were president at the time, he never would have gone there in the first place. if he had praised the surge and said this was a good war after all, i was wrong, nobody would have believed him. ari fleischer is never satisfied unless you put president bush on a pedestal. >> this is what the president said last night. here it is. >> this afternoon i spoke to former president george bush. it's well known he and i disagreed about the war from its outset. yet no one can doubt president
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bush's support of our troops and his love of country. >> a lot of liberals think that was over the top. john, was it a class act? >> listen, i think president obama gets some credit for this. but president bush was right on the surge. president obama was wrong on the surge and that should have been acknowledged in the speech. >> that's like after the arsonist call the fire department, suspeisn't it? >> not at all. we're in a much better position in iraq because president bush stood up and called for more troops in the surge and that's why we are as in good a situation in iraq as we are today. >> look, we know this was an illegal war, we'll give him some credit for loving our country, but we're not going to say the surge worked. it didn't. let's move on. >> bill cunningham, radio talk show host out of ohio, severe
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righty, is saying that he's going to be broadcasting from the tan man, john boehner's office on election night. i want to remind our audience, in case you didn't know, that it was trent lott who would not let this broadcaster broadcast out of the senate building and harry reid told me you can't come in here anymore. what is going on with this, bill press? >> i checked today, ed. it is legal in the house for members to allow broadcasters to broadcast from their offices. i'm sorry to say. but first of all, this guy is one of the ugliest and one of the craziest. i talk about him in my book. he's called president obama the antichrist and his slogan is, what is your willie thinking? this is how crazy this guy is thinking. i got to tell you, it's legal to be here. but if i were bill cunningham, i would stay home. it's going to be like a morgue
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in john boehner's office. >> john, what do you think? >> i am shocked, shocked that two out of three guys on this panel are talk show hosts and it's not me and they're saying this guy shouldn't be able to broadcast from the capital. >> i don't care where he broadcasts from. i just want to point out the fact that the righties would not allow me to broadcast in the senate building. >> the senate and the house are completely different things, you should know that, ed. >> it shows the connection between the republican leadership and these extreme right wingers on the radio. they're led around by the nose. >> the democratic governor's association has decided to go to the grassroots and get some money. after news corp. gave a million dollars to the republicans. what do you make of it? >> i love this. two things, ed. number one, i hope the
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governor's association keep this going. a million is not enough. get $2 million. secondly, i hope rupert murdoch gives a million to every democratic committee. that's maybe the only way the democrats can match them in fund-raising. >> john, isn't this kind of a new day when media types, big corporations start writing checks for candidates? i mean, where is the fair and balance in that? >> let me say that the democrats already have a huge financial advantage. mostly because they're getting money from the special interest. >> i'm talking about a media company, john. i'm talking about a media company. >> you know, they're taking money from big labor, the poor working stiffs and taking it against their will and contributing it to democrats who are fighting against them. >> john, wait a minute. hold the phone here. unions do not take money from
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workers against their will. they give $7 a month into a fund and that's where it goes to. it's not against their will whatsoever. all i'm asking you, john, isn't this new territory when you have a big media company funneling money to an election and then going on the air? how are people supposed to think that they're going to be honest brokers when it comes to the news? >> how about this network we're on? how many contributions from g.e. go to democrats? >> come on, john. look, this proves, ed, if there were ever any doubt that fox is nothing but the propaganda arm of the republican committee. >> what is msnbc? give me a break! >> all right, let's close it out with this final point. can glenn beck bring this country back to god? bill press? >> god? no. >> john? >> i say stick to politics,
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glenn, because you know nothing about religion. >> john? >> let me say that religion is much too important to leave to talk show hosts. >> all right. >> amen. >> i would agree with that. and i know that bill press will march with me if i decide to. >> that's three of us. >> so three people in less than an hour. i'm on a roll. coming up, tim palente will stop at nothing at his presidential run even if it means 250,000 people will be in danger. he wants to pull the plug on the health care law. nicole lamerow runs the national association of free clinics. we'll get an update as she's saving lives in new orleans. ♪ band: every day you check the weather check the time check the news online ♪
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outgoing minnesota governor tim pawlenty is trying to boost his chances to get the republican nomination for 2012 by sticking it so citizens of his own state when it comes to health care. on tuesday, pawlenty signed an executive order forbidding minnesota state agencies for applying for grant programs made available under the new health care law. pawlenty said obama care is an instrugs by the federal government into personal health care matters and an explosion of federal spending that does nothing to make health care more affordable. to the fullest extent possible, we need to keep obama care out of minnesota. pawlenty, who polled at a whopping 1% in the latest iowa straw poll, is trying to build his tea party credentials with the radical republican party. the national democratic committee pointed out pawlenty's
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grandstanding will cost his state $7.8 billion and deny care to 250,000 people. this move by pawlenty is flat out cruel in my opinion. the man will only be in office for the next few months. and his decision could deny health care to people in minnesota in need for years to come. this is sick, ugly politics on the worst possible level. joining me now is the executive director of the national association of free clnices, nicole lamerowe. thanks for your cooperation yesterday. our teams were inspired by the work you wonderful professionals were doing down in new orleans. i would like you to respond tonight to this move by this radical governor in minnesota and how it's going to hurt americans. >> i would like to invite him to come to own of our free clinics. these are people who need help.
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how can we continuously put dollar signs on someone's life? i'm going to ask every viewer, look to the person next to you and tell me what their life is worth to you. and then say, it doesn't matter. >> i think that this could really have a domino effect. there's going to be some other governors out there on the righty side of things that are going to try to do the same thing. maybe he's the first one, but it's a radical move and this will hurt americans. what are you seeing in your clinic down in new orleans? are the people there sicker? tell us some of the stories from today. >> the people here are so much worse off than when we were here last year. we have people now sharing their medications. they can't afford medication. they're taking the wrong dosages, they're taking them from their children. we're hearing stories of people wearing glasses four or five years out of date. most importantly, i had a woman who came in tonight with a float
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nodual which was diagnosed before katrina but she's still not gotten help. she came in with paperwork two days before katrina hit. that's constant over and over again. we just sent four people to the hospital right before i came on your show. we're hearing respiratory problems. we had someone who had a broken wrist and he didn't even know it. >> what do you say to governor pawlenty in minnesota who says the health care law is a personal intrusion? >> i any it still isn't going to help our patients even now. i talked and it yesterday, i'll talk about it again. these patients are saying to us, before 2014, i'm going to die. there is something that needs to be done that actually gives quality health care to the people who need it the most. and i'm not thinking it's a personal intrusion, because when it comes down to your health, it's the most important thing that each of us have. and it only becomes an issue to the people who are insured when
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they're fighting on one side or the other. when you're fighting for your life. >> did you save more lives today in new orleans? >> we did. we're at 1,344. that's how many people have come through the door. again, people walking up to us saying thank you for being here. we didn't believe you were going to come. >> they better believe you're going to be on december 7th in charlotte, north carolina. thanks for joining us and thanks for what you do. sharng angle thinks education is better taken care of at the state level. that's a smart idea, cut the agency that serves america's students, a department that coordinates the most assistance to education. she can use some schooling of her own in my opinion. and a bombshell story in vanity care rips into sarah palin, the momma grizzly is revealed to be hot tempered. does beck know that? and paranoid.
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a paranoid woman who is also a real bad tipper. i just can't stand cheap people. it's also revealed that sara has become more private, distancing herself from old friends and colleagues. saying anywhere you peel back the layer of sarah palin's life, a strangeness lies underneath. wow. mayor bloomberg is talking about last weekend's golf match with president obama on martha's vineyard. the mayor of the city of new york said other than golf, they talked a lot about the economy. now, there's some speculation of obama asking bloomberg to replace treasury secretary tim geithner. but representatives for the white house and city hall denied any job discussions. coming up, i'll tell you why your hard-earned dollars are lining the pockets of some fat cats on wall street. it's disgusting but you need to hear this.
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it's next on "the ed show." stay with us. [ rattling ] [ gasps ] [ rattling ] [ laughing ] [ announcer ] close enough just isn't good enough. - if your car is in an accident, - [ laughing continues ] make sure it's repaired with the right replacement parts. travelers. take the scary out of life. so, you want me to be super amazing right from the faucet, but you think home filters can be a pain in the tucus. well check this out... boo-yah! shazam! h2...o! hydrolicious! look what i can do! magic bananas!
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and finally tonight, are you as appalled as i am? greed just oozing from the heart lest ceos on wall street. the institute for policy studies released a report on executive pay and the findings have got to get your blood boiling. it does mine. ceos of the 50 firms that laid off the most workers since the
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start of the economic crisis in 2008 took home an average of $12 million last year. these fat cats raked in about $600 million at the same time laid off over -- excuse me, 531,000 people. and many of them took bailout money. there is a class war going on, folks. the big shots are laying off people and cutting wherever they can so they can maintain their outrageous salaries. joining me now is the co-author of this report, chuck collins. he's the senior scholar at the institute for policy studies and directs their program on inequity and the common good. >> hey, ed. >> good to have you with us tonight. my eyes fell out when i read this story. i mean, i knew it was bad but i didn't know it was this bad. >> yep, here we are in the great recession and we're seeing the wall street business model of
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shedding jobs and boosting executive pay to the top. and we looked at, as you say, the top 50 companies, the top 50 layoff leaders. their pay is 42% higher than their overpaid peers on the standard and poors. some of those layoff leaders, you know, if you look at fred hassen, paid $50 million, laid off 16,000 workers at the drug company. william welding, johnson&johnson, 9,000 workers, $26 million pay package. mark herd over at hewlett packard, laid off 6,400 workers. >> and this was after getting government assistance to stay afloat, this is how they rig the system. >> that's right. these are, we call them the bailout barons. so take american express, got $3.4 billion of assistance and
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the ceo walks off with $18.6 million in compensation. at the same time he lays off 4,000 workers. >> here's ceo pay versus average american worker. the institute for policy studies last year, ceo pay versus the 1990s is over doubled. a ceo last year versus the 1980s quadrupled. average worker last year made less than the 1970s. this is a two-class system, no doubt about it. >> it's really sort of a reflection of the great betrayal that we see between wall street and final shall elites, that they benefit